[In the news] Sale of Agus-Pulangi plants in Mindanao left to Congress | Sun.Star

Sale of Agus-Pulangi plants in Mindanao left to Congress | Sun.Star.

DEPARTMENT of Energy Secretary Jose Rene Almendras remained firm on his commitment to defer the sale of Agus-Pulangi complex in Mindanao for now despite Malacañang’s earlier approval to sell it.

“We have expressed our alternative plans. We have expressed our own opinions but in the end it will be Congress [through the Joint Congressional Power Commission] who will decide,” he told Sun.Star at the sidelines of the launch of cash assistance to jeepney drivers last Tuesday.

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However, he neither confirmed nor denied reports that his agency will draft a memorandum urging President Benigno Aquino III to defer with the sale of Agus in Lanao del Norte and Pulangi in Bukidnon.

Almendras earlier informed the Power Sector Assets and Liabilities Management Corp. (Psalm) of his disapproval to put the said hydropower plants on auction block due to their importance to Mindanao’s current power needs.

“The correct statement is it’s not yet for sale. We do not want to sell it yet. How long it would be would depend on how soon we would achieve true pricing and make appropriate adjustment to encourage investment,” he said.

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